On September 1, 2026, the White House announced a historic deal with North American Blue Energy Partners (NABEP) to develop Venezuela's oil sector, granting 100-year concessions for 17 oil fields and involving approximately $100 billion in investment. The deal, led by Venezuelan businessman Alejandro Betancourt, creates a joint venture that gives the U.S. Pentagon a stake in Venezuela's vast reserves.
7 reportslocal · us_mainstream · international
Claim audit
No BS check run yet — press ⚖ to extract this story's claims and verify them against independent sources.
The White House says it’s partnering with North American Blue Energy Partners in a deal that will give the Pentagon a stake in Venezuela’s vast oil reserves.
The Trump administration's plan to take a stake in tens of billions of barrels of Venezuelan oil reserves will hinge on a private company called North American Blue Energy Partners, the White House announced Monday.
The deal, made possible by strengthening relations between Venezuela and the United States, is expected to involve nearly $100 billion in investment to commercialize more than 65 billion barrels of P1 reserves in Venezuela.
As part of the deal, the U.S. is creating a private company as a joint venture with North American Blue Energy Partners, owned by Venezuelan businessman Alejandro Betancourt.
The White House on Monday identified the company that will operate seventeen Venezuelan oil fields for a century in partnership with the US government: North American Blue Energy Partners, owned by Venezuelan businessman Alejandro Betancourt, who is under investigation in Switzerland and Spain over his alleged involvement in a scheme to launder funds from the state oil company PDVSA. There is no c